The Dallas-Fort Worth area is due to reach a milestone in October with nearly 6,000 homes facing foreclosure, a 34% leap from the year prior.
As reported recently by a local Dallas news program, the biggest jump is in Collin County where Foreclosure Listing Service said foreclosure filings are up 61% from October 2008.
Loan modification programs which carry over filings from previous months are responsible for much of the increase.
Foreclosure Listing Service President George Roddy said that they’re seeing “a lot of reposts” which are “creating an artificial high.”
However, the number of homes actually being foreclosed on this year was down 17% during the first six months compared to the same period last year.